What are your plans for exit?
How much thought have you given your exit? What will happen when you reach retirement age? Or when you are ready to stop working in your current business? Will you leave it to chance, or would you prefer to be clear about what you want and start putting a plan in place to make sure it happens as you’d like?
In the busy day to day of work and business, it’s not easy to think ahead that far. It takes enough to think about the day in hand and all the challenges and demands without being asked to look further.
Some say that failing to plan is planning to fail. Sounds harsh, but you are unlikely to get what you want if you haven’t worked out what you want! Coaching will help simplify your thoughts. It will enable you to take the time to really work out what you want and then put a plan in place to achieve this. A coach will check with your that your outcome is realistic – we would all like to sell our business for millions but that is a rare occurrence. If you really want to do that, then coaching can also help you build a plan to put more value into your business and ensure that processes and systems are in place to make it a more attractive, saleable business.
What about timescales? When do your want to exit? Do you want to get out early? Or would you like to adapt your business and your role so that you can take on a less hands on role? Have you thought about who might be likely to want to buy your business?
Are you interested in creating an “eternal business” where your staff buy the business from you and you retain a role (read more about this here), meaning you will be less hands on, but still involved and your staff become more engaged as they have a stake in the business.
Consider what your plans for exit are, and ask yourself if coaching might help bring clarity and open up your options so that you can put together a clear plan of what you need to do next.
Get in touch to find out more about coaching for exit. Email email@example.com
I work with SMEs in Bristol, the South West, Wales and London.